Post by
Tim2Agami on Oct 12, 2022 12:17pm
Company Update October 2022
https://www.gowestgold.com/
FROM POWERPOINT PRESENTATION
New CEO brings over 30 years of experience in geology and general management in all aspects of the mining operations of a number of companies, including operations, milling, maintenance, engineering, administration, health, safety, as well as community relations
§ Converted $18M of $24M of short-term and long-term loans into 72M common share at $0.25 per share
§ Converted $7.5M of Promissory Note into 57M units at $0.13 per unit
§ Deferral agreement on $7.4M of obligation to mining contractor
§ The restructuring of the Balance Sheet allows the Company to move forward on a planned $25,000,000 financing to bring the Bradshaw Gold Deposit into production
§ Gold mineralization intercepted at depth with potential to double resource based on regional deposits
§ Fully permitted for 1,500 Tonnes-Per-Day
§ Targeting mine restart in 2023
§ Production at a rate of 90,000 oz/year within three years
Leveraging technology to optimize production
120 sq-km North Timmins Gold Project situated along underexplored mineral belt
§ Robust local presence with strong community and First Nations relationships and support
§ Three strong gold mineralized zones showing earmarks of additional deposit potential
§ Two mineralization zones less than 1km from Bradshaw Deposit
§ Significant exploration potential along newly identified mineral belt larger than historic gold belt
§ Develop an optimal mine-to-mill strategy
§ Opportunity to build and support a centralized refinery for Northeastern Ontario and Northwestern Quebec
§ M&A platform for further growth
VISION FOR FUTURE: ENOUGH GROUND TO HOST MULTIPLE MINES
read more at
https://www.gowestgold.com/wp/wp-content/uploads/2022/10/Gowest-Presentation-October-5-2022-FNL-1.pdf